Ex-HarbourVest Asia head withdraws candidacy for US navy secretary
Philip Bilden, the former Asia head of HarbourVest Partners, has withdrawn himself from consideration to be US navy secretary, citing potential conflicts with his family’s business interests.
Bilden, who spent 10 years as a military intelligence officer in the Army Reserve before moving to Asia and has two sons currently serving in the navy, was nominated for the role last month by President Donald Trump. The president said at the time that Bilden would apply his “terrific judgment and top-notch management skills” to the task of expanding and modernizing the US navy.
However, Bilden said in a statement over the weekend: “I have determined that I will not be able to satisfy the Office of Government Ethics requirements without undue disruption and materially adverse divestment of my family’s private financial interests.” Defense Secretary Jim Mattis added that the decision was driven by privacy concerns and Bilden’s business interests.
Bilden joined HarbourVest in Boston in 1991 and relocated to Hong Kong in 1996 to establish the firm's Asian offices. He transitioned to a senior advisor role in 2012.
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